Betting, Gaming and Lottery Tax

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Florida lottery ticket secures $ billion prize, yields $ million after tax deductions: Report Income Tax Calculator · SIP Calculator

The lottery automatically withholds 24% on all prizes over $5,000 for federal taxes For a $1 billion lump sum, that would be $240 million Note Florida lottery ticket secures $ billion prize, yields $ million after tax deductions: Report Income Tax Calculator · SIP Calculator

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